Gulu Mirchandani - Chairman & Managing Director
The Board of Directors of the Company comprises of the following Directors: The statement containing the salient features of the Balance Sheet, Statement of Profit and Loss and Auditors'' Report on the abridged financial statement has been sent to those members who have not registered their email id''s with the Company. The aforesaid allottees have right to convert 1 convertible warrant into 1 equity share of face value of Re 1/- each within a period of 18 months from the date of issue of aforesaid convertible warrants i.e. Preferential Issue of Convertible Warrants:ĭuring the year, the Company has issued and allotted 1,92,00,000 convertible warrants at issue price of Rs.37.53/- (including premium of Rs.36.53/- per equity share) to the following non promoter allottees pursuant to Section 62 of the Companies Act, 2013 read with Rule 13 of the Companies (Share Capital and Debentures) Rules, 2014 and Chapter VII of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulations, 2009. 1/- each fully paid up for a cash at issue price of Rs.37.53/- (including premium of Rs.36.53/- per equity share) to the following non promoter allottees pursuant to Section 62 of the Companies Act, 2013 read with Rule 13 of the Companies (Share Capital and Debentures) Rules, 2014 and Chapter VII of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulations, 2009.Īs a result of the above, the paid up equity share capital of the Company increased from Rs.21,17,52,619/- to Rs.23,09,52,619/- as at March 31, 2018. Issue of Equity Shares on Preferential Basis:ĭuring the year, the Company has issued and allotted 1,92,00,000 equity shares of face value of Re. There is no appropriation of any amount to General Reserves during the year under review. The financial statements are prepared in accordance with Indian Accounting Standards for the financial year ended Maand forms part of this Annual Report.ĭividend and Transfer to General Reserves:Ĭonsidering the financial requirement for business growth and debt servicing, your Directors regret and do not propose dividend for the year ended March 31, 2018. The Company has made a profit of Rs.23.49 crores. Gross Profit (before interest, depreciation, tax and writing off of preliminary expense)īalance in Profit & Loss A/c carried forward from the last yearĭuring the year under review, your Company has made gross turnover of Rs.735.20 crores as against Rs.765.69 crores for the previous year. The Financial highlights for the year under review are as under: The Directors are pleased to present the Thirty Seventh Annual Report along with the Audited Financial Statements of the Company for the financial year ended March 31, 2018.
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